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Retail News

Tchenguiz acts against M&B short-sellers
Property tycoon Robert Tchenguiz moved against short-sellers in pub group Mitchells & Butlers, converting a derivatives holding of almost 26 per cent into shares in order to stop it being lent to those betting on price falls

Penn National's $6.1bn buyout abandoned
The $6.1bn private equity takeover of Penn National Gaming has been aborted because of market conditions and the risk of spiralling legal costs

Game Group confident of beating forecasts
The video games retail chain sounded an upbeat note after saying it would beat forecasts for the first half of the year and announced the appointment of a Google executive to its non-executive board

ScS rescued by US private equity group
The furniture group unveiled a rescue deal that will see Sun European Partners take over the ongoing operations but wipe out the equity in the business

US firms take a gamble on debt
The $8.9bn buyout of Penn National Gaming has become the latest casualty of a slowing economy and turmoil in the credit markets

Greene King warns of slowdown
The brewer and pub operator warned revenues had slowed in the first two months of its financial year and said conditions remained 'difficult' as consumers face increasing pressures on their spending

M&S and Taylor Wimpey cast pall over City
Britain is facing the most severe consumer downturn since the 1990s, Sir Stuart Rose said on Wednesday as Marks and Spencer shocked the City with an unexpected profits warning

Starbucks goes skinny as froth withers
When Starbucks announced plans this week to cut back its planned new stores and to close some 600 existing outlets, the world's largest coffee retailer bade farewell to the era of growth that has made Starbucks' green and white sign a symbol of urban America

M&S down 23% on surprise warning
Marks and Spencer shares fell by almost a a quarter after a profits warning from Britain's biggest clothing chain prompted analysts to slash profit forecasts for the retailer

Blockbuster abandons Circuit City takeover
Shares of Circuit City sank to their lowest level for more than two decades after video rental chain Blockbuster dropped its bid to buy the struggling electronics retailer for more than $1bn

Starbucks to close 600 US stores
Starbucks is to close about 600 of its 7,000 US coffee shops and drastically cut plans for new locations, blaming over-aggressive expansion rather than slowing consumer demand. The coffee chain will also cut about 12,000 jobs

Suppliers lose investors' trust
Marks and Spencer's food suppliers lost the confidence of investors yesterday on the back of M&S's profit warning, writes Alistair Gray .to Marks and Spencer...

Big shareholders to signal lack of confidence in board via vote
Four of Marks and Spencer's biggest investors said yesterday that they would vote against the company's annual report and accounts as a signal to the company their...

M&S investors to vote against annual report
Four of Marks and Spencer's biggest investors said yesterday that they would vote against the company's annual report and accounts as a signal to the company their...

Rising oil upsets Asian airlines' hedges
Several Asian airlines have cut back on fuel hedging this year, leaving them exposed to far more substantial costs should oil remain at record highs